Beni Hydropower Project Limited Opens IPO for Project-Affected Locals and Foreign Nepalese Immigrants From Today

Beni Hydropower Project Limited has commenced the issuance of its Initial Public Offering (IPO) from today, 1st Chaitra, 2082, offering 10,40,000 units of shares to project-affected locals of Solukhumbhu District and 1,04,000 units of shares to Nepalese citizens working abroad.

The IPO issue for the locals of Solukhumbhu District will open from 1st Chaitra to 15th Chaitra, 2082, with a possible extension till Chaitra 30 if not fully subscribed by the early closing date, while for Nepalese citizens working abroad, the issue will open from 1st Chaitra to 5th Chaitra, 2082, and may be extended till Chaitra 15 if undersubscribed.

The issued capital of the company is Rs. 1.04 arba. Of this, 20%, i.e., 20,80,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 10,40,000 unit shares worth Rs. 10.40 Crores, will be allocated to project-affected locals of Solukhumbhu district. The remaining 10% of the issued capital, i.e., 10,40,000 unit shares, will be offered to the general public.

Of this general public issue, 10%, a total of 1,04,000 unit shares, have been set aside for Nepalese citizens working abroad, and the issue is open from today.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units. And for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units.

NMB Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Beni Hydropower Project Limited (BEPL/the company) to [ICRANP-IR] BB+ (pronounced ICRA NP Issuer Rating Double B Plus) from [ICRNAP-IR] BB (pronounced ICRA NP Issuer Rating Double B). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations

Beni Hydropower (P.) Ltd is a hydropower development company founded in 2016. The company is developing the Upper Solu Khola Hydropower Project, a run-of-river type project with a licensed capacity of 18 MW. The project is located in Beni (Salleri), Solukhumbhu district of Nepal. The project is currently under construction.

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